Xendit to Expand to Thailand and Vietnam

Summary

Fintech platform providing payment gateway Xendit will expand its business to Thailand and Vietnam at the end of 2023 after starting its operations in Malaysia in early 2023. “Hopefully we can expand by the end of this year if everything goes according to plan,” Xendit spokesperson Rifai Taberi told Katadata.co.id on Friday.

Xendit, which initially focused its operations in Indonesia and the Philippines, will expand to three markets in Southeast Asia in 2023.

According to Rifai, it will not be an easy task since the fintech industry has many regulations. Fintech firms must go through various processes, including during an expansion.

However, Xendit intends to identify the business nature of each country so that it can provide the right payment infrastructure solutions.